Revisiting the tourism-growth nexus: evidence from a new index for the market diversification of tourist arrivals

References

• Amurgo-Pacheco, A., & Pierola, M. D. (2008). Patterns of export diversification in developing countries: Intensive and extensive margins (World Bank Policy Research Working Paper, No. 4473), Washington, DC: World Bank.
   Google Scholar
• Anand, R., Kochhar, K., & Mishra, S. (2015). Make in India: Which exports can drive the next wave of growth? (International Monetary Fund Working Paper Series, No. 15/119), Washington, DC: International Monetary Fund.
   Google Scholar
• Antonakakis, N., Dragouni, M., & Filis, G. (2015). How strong is the linkage between tourism and economic growth in Europe? Economic Modelling, 44, 142–155. doi: 10.1016/j.econmod.2014.10.018
   Web of Science ®Google Scholar
• Arslanturk, Y., Balcilar, M., & Ozdemir, Z. A. (2011). Time-varying linkages between tourism receipts and economic growth in a small open economy. Economic Modelling, 28(1), 664–671. doi: 10.1016/j.econmod.2010.06.003
   Web of Science ®Google Scholar
• Aslan, A. (2016). Does tourism cause growth? Evidence from Turkey. Current Issues in Tourism, 19(12), 1176–1184. doi: 10.1080/13683500.2015.1015970
   Web of Science ®Google Scholar
• Avraham, E. (2015). Destination image repair during crisis: Attracting tourism during the Arab spring uprisings. Tourism Management, 47, 224–232. doi: 10.1016/j.tourman.2014.10.003
   Web of Science ®Google Scholar
• Balaguer, J., & Cantavella-Jordá, M. (2002). Tourism as a long-run economic growth factor: The Spanish case. Applied Economics, 34(7), 877–884. doi: 10.1080/00036840110058923
   Web of Science ®Google Scholar
• Balli, F., Balli, H. O., & Cebeci, K. (2013). Impacts of exported Turkish soap operas and visa-free entry on inbound tourism to Turkey. Tourism Management, 37, 186–192. doi: 10.1016/j.tourman.2013.01.013
   Web of Science ®Google Scholar
• Belloumi, M. (2010). The relationship between tourism receipts, real effective exchange rate and economic growth in Tunisia. International Journal of Tourism Research, 12(5), 550–560.
   Web of Science ®Google Scholar
• Blake, A., Arbache, J. S., Sinclair, M. T., & Teles, V. (2008). Tourism and poverty relief. Annals of Tourism Research, 35(1), 107–126. doi: 10.1016/j.annals.2007.06.013
   Web of Science ®Google Scholar
• Chan, F., Lim, C., & McAleer, M. (2005). Modelling multivariate international tourism demand and volatility. Tourism Management, 26(3), 459–471. doi: 10.1016/j.tourman.2004.02.013
   Web of Science ®Google Scholar
• Chen, C-F., & Chiou-Wei, S. Z. (2009). Tourism expansion, tourism uncertainty and economic growth: New evidence from Taiwan and Korea. Tourism Management, 30(6), 812–818. doi: 10.1016/j.tourman.2008.12.013
   Web of Science ®Google Scholar
• Cortés-Jiménez, I., Nowak, J., & Sahli, M. (2011). Mass beach tourism and economic growth: Lessons from Tunisia. Tourism Economics, 17(3), 531–547. doi: 10.5367/te.2011.0047
   Web of Science ®Google Scholar
• Coşar, K., & Demir, B. (2016). Domestic road infrastructure and international trade: Evidence from Turkey. Journal of Development Economics, 118, 232–244. doi: 10.1016/j.jdeveco.2015.10.001
   Web of Science ®Google Scholar
• Croes, R. R. (2006). A paradigm shift to a new strategy for small island economies: Embracing demand side economics for value enhancement and long term economic stability. Tourism Management, 27(3), 453–465. doi: 10.1016/j.tourman.2004.12.003
   Web of Science ®Google Scholar
• Dritsakis, N. (2004). Tourism as a long-run economic growth factor: An empirical investigation for Greece using causality analysis. Tourism Economics, 10(3), 305–316. doi: 10.5367/0000000041895094
   Google Scholar
• Dritsakis, N. (2012). Tourism development and economic growth in seven Mediterranean countries: A panel data approach. Tourism Economics, 18(4), 801–816. doi: 10.5367/te.2012.0140
   Web of Science ®Google Scholar
• Dumitrescu, E-I., & Hurlin, C. (2012). Testing for granger non-causality in heterogeneous panels. Economic Modelling, 29(4), 1450–1460. doi: 10.1016/j.econmod.2012.02.014
   Web of Science ®Google Scholar
• Dwyer, L., Forsyth, P., & Spurr, R. (2004). Evaluating tourism’s economic effects: New and old approaches. Tourism Management, 25(3), 307–317. doi: 10.1016/S0261-5177(03)00131-6
   Web of Science ®Google Scholar
• Gozgor, G. (2015). Causal relation between economic growth and domestic credit in the economic globalization: Evidence from the Hatemi-J’s test. Journal of International Trade and Economic Development, 24(3), 395–408. doi: 10.1080/09638199.2014.908325
   Web of Science ®Google Scholar
• Granger, C. W. J. (1969). Investigating causal relations by econometric models and cross spectral methods. Econometrica, 37(3), 424–438. doi: 10.2307/1912791
   Web of Science ®Google Scholar
• Gunduz, L., & Hatemi, J. A. (2005). Is the tourism-led growth hypothesis valid for Turkey? Applied Economics Letters, 12(8), 499–504. doi: 10.1080/13504850500109865
   Web of Science ®Google Scholar
• Hacker, R. S., & Hatemi, J. A. (2006). Tests for causality between integrated variables using asymptotic and bootstrap distributions: Theory and application. Applied Economics, 38(13), 1489–1500. doi: 10.1080/00036840500405763
   Web of Science ®Google Scholar
• Halicioglu, F. (2010). An econometric analysis of the aggregate outbound tourism demand of Turkey. Tourism Economics, 16(1), 83–97. doi: 10.5367/000000010790872196
   Web of Science ®Google Scholar
• Hatemi, J. A. (2012). Asymmetric causality tests with an application. Empirical Economics, 43(1), 447–456. doi: 10.1007/s00181-011-0484-x
   Web of Science ®Google Scholar
• Katircioglu, S. T. (2009). Revisiting the tourism-led-growth hypothesis for Turkey using the bounds test and Johansen approach for cointegration. Tourism Management, 30(1), 17–20. doi: 10.1016/j.tourman.2008.04.004
   Web of Science ®Google Scholar
• Kim, H. J., Chen, M. H., & Jang, S. C. (2006). Tourism expansion and economic development: The case of Taiwan. Tourism Management, 27(5), 925–933. doi: 10.1016/j.tourman.2005.05.011
   PubMed Web of Science ®Google Scholar
• Lee, C-C., & Chang, C.-P. (2008). Tourism development and economic growth: A closer look at panels. Tourism Management, 29(1), 180–192. doi: 10.1016/j.tourman.2007.02.013
   Web of Science ®Google Scholar
• Lim, C. (1997). Review of international tourism demand models. Annals of Tourism Research, 24(4), 835–849. doi: 10.1016/S0160-7383(97)00049-2
   Web of Science ®Google Scholar
• Nowak, J-J., Sahli, M., & Cortés–Jiménez, I. (2007). Tourism, capital good imports and economic growth: Theory and evidence for Spain. Tourism Economics, 13(4), 515–536. doi: 10.5367/000000007782696113
   Google Scholar
• Oh, C-O. (2005). The contribution of tourism development to economic growth in the Korean economy. Tourism Management, 26(1), 39–44. doi: 10.1016/j.tourman.2003.09.014
   Web of Science ®Google Scholar
• Ongan, S., & Demiroz, D. M. (2005). The contribution of tourism to the long-run Turkish economic growth. Ekonomický Casopis (Journal of Economics), 53(9), 880–894.
   Web of Science ®Google Scholar
• Parrilla, J. C., Font, A. R., & Nadal, J. R. (2007). Tourism and long-term growth a Spanish perspective. Annals of Tourism Research, 34(3), 709–726. doi: 10.1016/j.annals.2007.02.003
   Web of Science ®Google Scholar
• Payne, J. E., & Mervar, A. (2010). Research note: The tourism-growth nexus in Croatia. Tourism Economics, 16(4), 1089–1094. doi: 10.5367/te.2010.0014
   Web of Science ®Google Scholar
• Shepherd, B. (2010). Geographical diversification of developing country exports. World Development, 38(9), 1217–1228. doi: 10.1016/j.worlddev.2010.02.005
   Web of Science ®Google Scholar
• Song, H., Dwyer, L., Li, G., & Cao, Z. (2012). Tourism economics research: A review and assessment. Annals of Tourism Research, 39(3), 1653–1682. doi: 10.1016/j.annals.2012.05.023
   Web of Science ®Google Scholar
• Tang, C. F., & Abosedra, S. (2014). Small sample evidence on the tourism-led growth hypothesis in Lebanon. Current Issues in Tourism, 17(3), 234–246. doi: 10.1080/13683500.2012.732044
   Web of Science ®Google Scholar
• Tang, C. F., & Abosedra, S. (2016). Does tourism expansion effectively spur economic growth in Morocco and Tunisia? Evidence from time series and panel data. Journal of Policy Research in Tourism, Leisure and Events, 8(2), 127–145. doi: 10.1080/19407963.2015.1113980
   Web of Science ®Google Scholar
• Tang, C. F., & Tan, E. C. (2013). How stable is the tourism-led growth hypothesis in Malaysia? Evidence from disaggregated tourism markets. Tourism Management, 37, 52–57. doi: 10.1016/j.tourman.2012.12.014
   Web of Science ®Google Scholar
• Tang, C. F., & Tan, E. C. (2015). Does tourism effectively stimulate Malaysia’s economic growth? Tourism Management, 46, 158–163. doi: 10.1016/j.tourman.2014.06.020
   Web of Science ®Google Scholar
• Tugcu, C. T. (2014). Tourism and economic growth nexus revisited: A panel causality analysis for the case of Mediterranean region. Tourism Management, 42, 207–212. doi: 10.1016/j.tourman.2013.12.007
   Web of Science ®Google Scholar
• World Bank. (2013, September). Online trade outcomes indicators: User’s manual (Version 1.0), Washington, DC: World Bank.
   Google Scholar